Common use of Payment Dispute Resolution Clause in Contracts

Payment Dispute Resolution. Notwithstanding the provisions of Section 16(c), any dispute, controversy or claim relating to the calculation of Net Sales or a payment made pursuant to this Agreement shall be submitted for resolution to a member (the “Arbitrator”) of an accounting firm of national standing selected by both Parties (and which shall not be the auditor of either of the Parties) within [***] days after notice of the dispute is received or deemed to be received by a Party. If the Parties cannot agree on an Arbitrator, the provisions of Section 16(c) shall apply. The Parties shall make submissions to the Arbitrator within [***] days after the selection of the Arbitrator and the Arbitrator will select one Party’s submission. If the Parties cannot agree on a member of the accounting firm, the provisions of Section 16(c) shall apply. The decision of the Arbitrator in selecting on Party’s submission shall be final and binding on both Parties.